M1X partners with governments to design and implement sovereign financial instruments issued natively on blockchain rails. Its flagship product, USDM1, is a USD-denominated sovereign bond for the Republic of the Marshall Islands, collateralized 1:1 by US Treasuries and used to deliver Universal Basic Income disbursements. The instrument is structured under New York law with a waiver of sovereign immunity, enabling institutional use as collateral in onchain capital markets.
Funding
Funding not disclosed
Founders
Product
Problem
Governments seeking to modernize financial infrastructure and deliver public benefits face significant challenges in remote or underbanked geographies, where traditional banking rails are costly, slow, and unreliable. Existing digital asset offerings lack the legal certainty, collateralization, and institutional-grade structure required for sovereign adoption and market compatibility.
Solution
M1X partners with governments to design and implement sovereign financial instruments issued natively on blockchain networks. Its flagship product, USDM1, is a USD-denominated sovereign bond for the Republic of the Marshall Islands, collateralized 1:1 by short-duration US Treasuries and structured under New York law with an explicit waiver of sovereign immunity. The instrument supports programmable delivery, enabling the government to execute regular Universal Basic Income disbursements across one of the world's most challenging geographies. M1X coordinates legal, regulatory, and technical expertise to build operational infrastructure and execution ecosystems that maintain compatibility with global institutional capital markets.
Target Audience
Primary customers are sovereign governments seeking to modernize public financial infrastructure, as well as institutional market participants including banks, custodians, and trading platforms that require legally certain, Treasury-backed digital collateral.
Features
- Native onchain issuance by a sovereign, not a wrapped or bridged instrument
- 1:1 collateralization with pledged short-duration US Treasuries, with perfected first-priority security interest under UCC 8/9
- Brady-style dual-recourse structure under NY law with enforceable par redemption and sovereign coupon payments
- Explicit waiver of sovereign immunity and legal structuring advised by Cleary Gottlieb
- Nettable as margin and collateral for derivatives, repo, and secured lending under industry-standard documentation
- Near-instant transfer and 24/7 settlement between regulated counterparties across global markets
- Accounting treatment aligned with sovereign debt or cash equivalents for balance sheet efficiency